Studies in Resource Allocation Processes (Hardcover)

Lingua: inglese

Editore: Cambridge University Press, Cambridge, 1977

0521215226 / 9780521215220

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Hardcover. One of the central questions of economics relates to the coordination of individual units within a large organization to achieve the central objectives of that organization. The question is usually discussed in the context of the national economy, but it is equally relevant to problems of organizing the large multidivisional company. This book examines the problems involved in allocating resources in an economic system where decision-making is decentralized into the hands of individuals and individual enterprises. The decisions made by these economic agents must be coordinated because the input decisions of some must eventually equal the output decisions of others. In such coordination prices play a central role. Coordination arises naturally out of the mathematical theory of optimization but there is still the question of how it can be achieved in practice with dispersed knowledge. The essays in this volume explore the many facets of this problem. Nine papers are grouped under the title 'Economies with a single maximand'. They include papers on static and dynamic optimization, decentralization within firms, and nonconvexities in optimizing problems.Fourteen papers are concerned with 'Economies with multiple objectives'. Among the topics covered here are stability of competitive equilibrium, stability in oligopology, and dynamic shortages. The final part of the book includes three papers on informational efficiency and informationally decentralized systems. How resources are allocated in an economic system where decision-making is decentralized. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability.…

Codice articolo 9780521215220

Titolo
Studies in Resource Allocation Processes (Hardcover)
Autore
Kenneth J. Arrow
Editore
Cambridge University Press, Cambridge
Anno di pubblicazione
1977
Condizione
new
Rilegatura
Hardcover
Lingua
inglese
ISBN 10
0521215226
ISBN 13
9780521215220

CitiRetail

Stevenage, Regno Unito

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Venditore AbeBooks dal 29 giugno 2022

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